Steadily upscaling in the crypto space, Fernhill Corp. (OTC Pink: FERN) is a diversified technology holding company that develops and acquires new generation technology, particularly blockchain/crypto, mobile apps, SaaS and alternative energy. In July, upon signing a letter of intent to acquire a  Saas-based crypto mining operating system, FERN witnessed an immediate increase in stock value, which skyrocketed to an unprecedented $.236 – a 187% increase over 13 days. Similar to other crypto mining ventures such as SPRT and AUNXF, FERN has an angle on the emerging green-crypto mining space which is seeing bullish interest in the market.

FERN Stock Catalysts

Recently the company announced its acquisition of PerfectMine, an established and fully operational crypto mining operating system and monitoring platform. The company’s CEO Marc Lasky underscored the importance of this acquisition for the business, stating that it “sets the stage for Fernhill to become one of the leading providers of crypto mining tools and resources to help optimize and create green mining solutions for the masses”. He added that the acquisition is actually the first among a series of planned acquisitions which match the company’s long-term plans.

Showing no sign of slowing, the company recently shared its intention to sign a LOI to acquire another Crypto platform by the end of Q3. This and its new marketing plan for upscaling PerfectMines’ client base are moves intended to generate profits for the company. This ties into FERN’s primary objectives for 2020 and 2021 which are increasing shareholder value and equity to qualify the company for uplisting to the NASDAQ by the end of next year. As FERN hints at new additions to its team and advisory board, investors bullish on FERN’s imminent catalysts and increasing Bitcoin value are anticipating a run up in FERN’s stock price. 

Media Sentiment

FinTwit influencer @MoonMarket_ – with 13.6K followers – has predicted an upsurge, tweeting that October will be a big month for FERN stock. With these impending catalysts it isn’t far-fetched to imagine another runup like July’s. 

Technical Analysis

FERN stock chart

After appreciating notably in July, FERN stock experienced a sell off on July 26th following heavy accumulation. Since then it downtrended before settling at a support of .0101 with a long term support near .0098. A recent resistance level has formed around .0120 with a more general resistance at .0131. Accumulation has downtrended over the past few days but RSI is currently at 59.12 and gaining. Similarly, the MACD is trending upwards after oscillating the last few days. At this time, a crossover seems likely after market open. 

Trading at $.0111, FERN’s aftermarket trading volume closed at 405 thousand – showing a brief surge in activity. Fern has 3 billion authorized shares, of which 1.9 billion are outstanding. 

Should you Buy?

According to FERN’s latest quarterly reports, the company has no revenue stream and suffered a 6 month operating loss of $55,365 – a notable increase over the same period in 2020. The company appears to have $35,850 in convertible notes at this time. However, FERN’s management team was able to acquire PerfectMine at a deeply discounted asset purchase price of only $50 thousand including all related fees. This “deeply discounted and highly undervalued asset purchase” is a major boon to FERN and in light of the company’s plans to increase shareholder value before uplisting to the NASDAQ, FERN has the potential to be a good ROI. 

If FERN’s plans to acquire another crypto mining operation come to fruition by EOQ3 then its stock price is likely to hit its May peak of $.0155 and potentially return to its all time high of $.235. Investors could make short term gains as FERN’s lengthy list of catalysts play out or hold out for its planned uplisting at the end of 2022. 

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